The “risk on” phase has further extended from late May into early June, with global share indices again surging to new cycle highs Tuesday and already into Wednesday. The positive global view continues to be driven by the successful easing of lockdowns, the reopening of the European and US economies, and as of yet no … Continued
Steve Miley has 29 years of financial market experience and as a seasoned expert now has many responsibilities. He is the founder, Director and Primary Analyst at The Market Chartist, the Editor-in-Chief for FXExplained.co.uk, the Academic Dean for The London School of Wealth Management, plus Senior Investment Advisor at Kylin Prime Capital.
At FXExplained.co.uk Steve is the Editor-in-Chief, alongside producing numerous articles for the site. The ability to be able to reach out to a wide, global audience with his own analysis and also assist and nurture other authors in their creative process makes this a role that Steve values deeply.
Here are Steve’s tips on what pages to follow closely on FxExplained: Current market analysis and Best trading app in UK.
The Market Chartist
The Market Chartist was founded in 2012 and provides daily technical analysis reports, with written commentary and key support/ resistance levels to an institutional, professional and retail client base. The 30+ daily reports include European, UK and US Bonds & Equity Index Futures, G10 currencies, UK Natural Gas, TTF Gas, German Power, EUA Emissions and LME Base Metals.
As The Market Chartist, Steve has won many awards from the Technical Analyst Magazine. He was the 2016 & 2013 Winner (plus 2014 Runner Up) for Best Independent Fixed Income Research & Strategy and winner of Best FX Research & Strategy in 2012. He was also a finalist in the Technical Analyst of the Year category each year for 2012-2017.
Other Current Positions
Steve is also the Academic Dean for The London School of Wealth Management, a role he really enjoys. He appreciates the opportunity to be able to educate a diverse array of students in all aspects of the financial market’s world. Steve says “to be able to be a part of transforming an individual’s life through education is truly a privilege and very exciting”.
In his role as Senior Investment Advisor at Kylin Prime Capital, Steve supports and advises the investment management team by employing his extensive fundamental market experience, alongside his wealth of technical analysis knowledge. This allows him to add significant value to investment decisions.
Steve also writes extensively for numerous financial markets sites including: FxStreet.com, TechnicalAnalyst.co.uk, InsideFutures.com, BarChart.com, StockTwits.com, StockBrokers.com, AskTraders.com and Investing.com.
Previous to this, Steve was also a Senior Lecturer at The London Academy of Trading where he fully began his journey into the world of education. It was here that he honed his skills as a lecture and mentor in the world of financial markets education.
Vast Technical Analysis Experience
Steve has also helped technical analysis push into a new era in his previous role as Director at Vega Insight. Vega Insight is a relatively new company with a specific focus on Artificial Intelligence and Machine Learning in global commodity and broader financial markets, with special focus on Energy. In his role Steve was responsible for the technical analysis inputs to the Artificial Intelligence and Machine Learning.
Steve spent 2009-2012 as a Director in the Technical Analysis Research Strategy team at Credit Suisse. Steve managed the FX division, responsible for the reports, forecasts and bank wide research for G10 & Emerging Markets currencies. In this role he also covered all major asset classes including Equity Indices, Rates & Credit, plus Commodities.
Steve spent most of his career at Merrill Lynch for 15 years from 1994-2009. The last ten years was as a Vice President in the research department as a technical analyst, responsible for daily reports, client presentations, plus in-house and client education programs. Prior to this, Steve was in the Fixed Income derivatives sales team where he managed the Italian Futures desk (BTP and EuroLira) on LIFFE (the London International Financial Futures Exchange). He was responsible for a four-man sales team, who consistently produced high volume of sales from both in-house and external clients.
He is a Member of the Society of Technical Analysts (MSTA) and holds a Master’s degree in politics, Philosophy & Economics from Oxford University (Lincoln College).
The “risk on” phase has extended through late May into this week, with global stock averages surging to new cycle highs. In the Forex world, the US Dollar continues to weaken (alongside the Japanese Yen), seen very much as a safe haven currency in the COVID-19 world. The positive global view continues to be driven … Continued
Macroeconomic/ geopolitical developments The positive “risk on” theme was again reinforced by additional positive steps regarding the launch of an €750bn EU recovery fund. The “risk on” theme was evident despite tensions between the US and China increasing in late May, intensified by developments surrounding Hong Kong. However, President Trump did not indicate economic sections … Continued
This week’s “risk on” theme extended on Thursday, and despite an overnight dip in Asian stock indices into Friday, we still see an overall positive tone to global financial markets into the end of the week and month. In the Forex space, the US Dollar stays weak, still a safe haven during the current global … Continued
The “risk on” theme continues with global stock averages again pushing to new cycle highs, and the US Dollar stays relatively weakened as a safe haven currency. Here we review the positive outlook for the EURUSD forecast. EURUSD day trade outlook: Upside risks through key 1.1039, maybe for critical 1.1147 A Wednesday rally to overcome … Continued
Last week’s “risk on” theme has extended into this week, with many global stock averages surging to new cycle highs, whilst in the Forex space, the US Dollar has weakened, still seen as a safe haven during the current global health crisis. This global positive outlook continues to be driven by hopes of a COVID-19 … Continued
Last week’s “risk on” theme has been reinforced already this week, despite the UK and US markets being closed Monday, with Asian and European stock averages surging to new cycle highs in many instances, reinforcing the positive theme we highlighted in last week’s report. This positive outlook continues to be driven by hopes of a … Continued
Macroeconomic/ geopolitical developments A potential COVID-19 vaccine from Moderna that had seen positive results in human trails sent global stock markets notably higher to start the week. Despite the positivity regarding the vaccine being dented by a report from the STAT medical media company, risk assets and currencies maintained their firm footing at the start … Continued
A shift to “risk off” into Friday morning as global stock averages have setback and the US Dollar has broadly gained, with the Yen also a strong performer. This is due to rising tensions regarding Hong Kong, with China stating that they strongly oppose any interference by foreign countries in Hong Kong affairs and will … Continued
This week’s “risk on” theme remains intact with global stock averages building on the strong gains from earlier this week, probing up to recent peaks over the past 24 hours. The negative topping patterns from mid-May have been further rejected, with the April cycle peaks in the crosshairs. This positive theme was driven by hopes … Continued
Hopes of a COVID-19 vaccine, alongside positive progress by France and Germany with respect to a European recovery fund have seen global financial markets shift back towards a “risk on” theme this week. Global stock averages have surged back higher to reject prior negative signals from mid-May, see our report here from Tuesday. In the … Continued
The “risk off” theme that we discussed last week in an article on the FTSE 100 was rejected with a surging rally on Thursdays, shifting the short-term threats to the upside . Negative topping patterns (head & Shoulders and Double Tops) have been rejected, whilst stock indices are now pointing at the April cycle peaks. … Continued
Macroeconomic/ geopolitical developments US-China tensions have increased this past week, with President Trump blaming China regarding the spread of the COVID-19 coronavirus and also with raised concerns regarding a possible resumption of trade conflicts. The past week has seen European nations and some US States continue to ease lockdown restrictions and to restart their economies. … Continued
The “risk off” theme was reinforced on Thursday as global stock averages plunged through key support levels, confirming short- and intermediate-term topping patterns. Despite intraday rebounds, the damage has been inflicted, which likely leaves risks lower for today and into the second half of May. Here we focus on the futures contract on the UK … Continued
A further shift towards a “risk off” theme Wednesday after a similar move Tuesday, with global stock averages selling off and the US Dollar rallying against most major currencies, as a “safe haven” currency. This has been driven by concerns of second wave of infections and deaths from the COVID-19 coronavirus, in the wake of … Continued
When trading Forex and Contracts for Difference (CFDs) most brokers offer leverage trading or trading on margin. You can learn more about gearing, leverage and margin in our article and video here. Margin trading is used to allow for greater opportunities for larger profitable outcomes, if an individual does not have the necessary capital. Forex … Continued
A shift towards a “risk off” theme Tuesday, with US stock averages staging a late selloff and “risk” currencies dipping lower. There was no real catalyst for this move, with shares indices trying to stage rebounds ahead of the European stock market openings on Wednesday. A key focus today will be a speech by Fed … Continued
A somewhat confused new lockdown directive from the UK government on Sunday alongside a rather cautious changes of advice and rules has seen the Pound stay under negative pressures versus the US Dollar. There is also a negativity from both the high number of cases and deaths in the UK relative to mainland Europe and … Continued
EURUSD, EURJPY, EURGBP, EURCHF, EURSEK and EURNOK forecasts In this analysis we are going to spotlight the Euro in the aftermath of the substantial price action seen throughout global financial markets in March, April and into May, since the spread of the coronavirus, COVID-19 into Europe and the US. Together with the impulsive moves across … Continued
Macroeconomic/ geopolitical developments European nations and some US States continue to relax lockdown measures and have started to reopen their economies in early May. The number of new cases and deaths from the coronavirus virus, COVID-19 continues to decline in many nations and have plateaued elsewhere. The macroeconomic data continues to deteriorate across the globe, … Continued
A shift back towards a “risk on” theme this week, with share indices rebounding further overnight after US and China government officials talk trade. A key focus today will be on the US Employment report. Here we look at the positive bias for the future on the US benchmark stock average, the S&P 500. S&P … Continued
EURUSD day trade outlook: Threat stays still lower A Wednesday selloff below 1.0828, then 1.0783 supports has reinforced Tuesday’s plunge through the up trend line from latter April (and 1.0894/91 and 1.0831 supports), to further reject upside forces from the turn of the month surge last week (above the important swing peak at 1.0991 to … Continued
There are various steps to a successful trading career whether in Forex or Contracts for Difference (CFD). First, is education! An education is key and an understanding of the fundamentals of markets and the technical analysis approach are key for any beginner trader and we have many education articles to help you here. Once you … Continued
A shift back towards a “risk on” theme this week, with stock indices rebounding after a lack of escalation after negative comments from the end of last week US government officials regarding China and potential tariffs. In the Forex space, this has seen the “risk” currencies rallying, with the Australian, New Zealand and Canadian Dollars … Continued
A we highlighted in our report last Friday Looking for a stock index rebound (S&P 500 forecast), a further move to a “risk off” phase to start this week, with stock indices gapping lower Monday, particularly in Europe with many markets closed for national holidays on Friday. This has been primarily driven by negative comments … Continued
GBPUSD, EURGBP, GBPCHF, GBPJPY, GBPCAD, GBPAUD and GBPNZD forecasts In this article we are going to have a special focus on the GB Pound in the wake of the significant price action seen across financial markets since the global spread of the COVID-19 coronavirus in March and April. Alongside the volatility exhibited throughout global stock … Continued
Macroeconomic/ geopolitical developments European nations and some US States are looking at or starting to relax lockdown measures and begin to partially reopen their economies. This is as data regarding the number of new cases and deaths from the COVID-19 coronavirus virus have plateaued and even declined in some instances. However, some European nations have … Continued
A move to a “risk off” phase on Thursday, possibly driven by month-end rebalancing, plus by negative comments from president Trump regarding China. Despite the selloff across global equity indices, we see rebound risks for today. Here we review prospects for the future on the US benchmark index, the S&P 500. S&P 500 E-Mini day … Continued
As we highlighted in yesterday’s report, rising expectations of the unlocking of the European and US economies has been boosted over the past 24 hours with growing hopes from further trials of the remdesivir drug for treatment of COVID-19. This has reinforced the global financial markets move to a “risk on” tone in latter April. … Continued
Growing anticipation of the re-opening of the economy in Europe, given the plateauing of coronavirus deaths and cases in Europe (and in some US States), has seen global financial markets move into a “risk on” theme this week. The major US stock and European averages have broken higher to new recovery highs, which has broadly … Continued
Hopes regarding the plateauing of coronavirus cases and deaths in Europe and in some US States, alongside the anticipation of the re-opening of the economy in some European nations has sent global financial markets back into “risk on” mode to start the week. This has sent major European and US stock averages to the upper … Continued
Macroeconomic/ geopolitical developments The data regarding the spread of the COVID-19 virus continues to see some encouraging improvement in some places, mostly in Europe, with a plateauing and even decline in the number of new cases and deaths. Furthermore, some European nations alongside some US States are starting to relax lockdown measures and open their … Continued
An intraday shift to a “risk off” theme Thursday as stock averages reversed early gains with the major global equity indices now eyeing important supports, For the Forex markets, this “risk off” theme has again seen some US Dollar strength return against major currencies, (but still sideways against Yen). We now look at the US … Continued
A small rebound for the major share averages over the past 24 hours, as the oil market has stabilised, and the oil futures price has rebounded. However, this has not necessarily switched the theme from “risk off” to “risk on”, with global stock indices still suffering from losses inflicted earlier this week. Here we spotlight … Continued
Education, education, education! There are two key aspects too improving yourself in any given venture, whether in sport, in business, in your personal life and certainly when it comes to trading and investing. And the first is educating yourself in whatever you are trying to achieve. The second is to then practice all that you … Continued
A more significant shift to a “risk off” theme over the past 24 hours with the major equity indices (stock averages) pushing through important supports, in reaction to ongoing concerns regarding the functioning of the Oil futures market. As we noted in yesterday’s article, the May Light Crude Oil future plunged down to negative $40 … Continued
A switch to a “risk off” theme to start the week with stock averages dipping lower, pulled down by the aggressive plunge in the Oil futures market. The front month Light Crude Oil future plunged below $0, down to -$40 (yes, negative), driven by technical market implications, with traders not wanting to take delivery of … Continued
Macroeconomic/ geopolitical developments In last week’s Macro Watch we highlighted the strong FOMO (Fear of Missing Out) rally across global stock averages, driven by encouraging data from Europe regarding the plateauing of the number of cases/ deaths from the coronavirus, from the relaxing of lockdown rules in some European nations and from the ongoing economic … Continued
As individuals, many of us are also investors and a growing number of us are traders. We might buy shares and Exchange Traded Funds (ETFs), purchase government and even corporate bonds, even investing into commodity markets. We might partake in Forex trading, Contracts for Difference (CFDs) trading and also trade the futures and options markets. … Continued
Investment, cyber and trading fraud are clearly paying off well as these types of crime show no signs of fading or going away. Moreover, the rise in these types of scams and frauds is doubtless far worse than we have data for, as it is likely under-reported. This is because the scammers and fraudsters are … Continued
A shift back to a “risk on” phase over the past 24 hours with major equity averages popping higher on positive news a study from Chicago on the potential positive treatment of the COVID-19 virus. This has seen a resumption of the up trends from March and the surge higher by most major global stock … Continued
Views about technical analysis vary widely across the investor and trader world, with some believing the analysis of charts and price patterns is a worthless endeavour, whilst others believe it critical to any investing or trading strategy. Many misconceptions and falsehoods have, therefore, been formed with respect to charting, as technical analysis is also known. … Continued
A shift to a “risk off” theme over the past 24 hours with stock markets dipping, likely reacting to correction activity rather than a more negative outlook. This has also seen a rebound and slight strengthening of the US Dollar against most currencies, Therefore, GBPUSD has dipped, but also tried to rebound, having has a … Continued
Once again, the major global stock averages went higher Tuesday, reinforcing the extremely strong gains in the week into the Easter holiday. In fact, some of the major averages are now eyeing key resistance levels from the March plunge. This equity markets advance continues to echo the “risk on” theme, driven by the plateauing, and … Continued
Forex trading and other similar forms of financial markets trading, such as spread betting and Contract for Difference (CFD) trading have seen a surge in popularity in the 21st Century. And alongside this popularity has come a huge number of new traders, with little or no experiences of financial markets. Although many of these newbie … Continued
Markets are still in “risk on” mode through the Easter weekend as we highlighted in early April reports, most recently here highlighting downside risks for USDCAD. The S&P 500 and European equity indices have reinforced this view already this week hitting new recovery highs. The “risk currencies”; the Australian, New Zealand and Canadian Dollars continue … Continued
Macroeconomic/ geopolitical developments The COVID-19 virus continues to spread globally, with the epicentre now in the US, where the number of cases and deaths continues to increase. However, there has been modestly encouraging data from Europe, with some nations such as Italy, Spain and Germany seeing a potential plateauing of the number of cases/ deaths … Continued
Markets remain in “risk on” mode as we have highlighted in early April reports, most recently here spotlighting upside risks for the FTSE 100. The S&P reinforced this view yesterday with a new recovery high. In this environment, broadly speaking, the “risk currencies”; the Australian, New Zealand and Canadian Dollars should perform well, particularly versus … Continued
Global stock averages pushed higher again on Tuesday, to reinforce strong gains from Monday, pushing to still higher new recovery peaks. (see our report here too from yesterday on the S&P 500). This has echoed hopes from a decline and plateauing of new cases/ deaths from COVID-19 in Europe and rumours of the removal of … Continued
Global financial markets have shifted to more of a “risk on” theme since the start of this week, rejecting the “risk off” phase seen at the beginning of April, last week. This has been in reaction to coronavirus new cases/ deaths showing some signs of slowing down in some parts of Europe (Italy and Germany) … Continued